Studies in Development Strategy and Systemic Transformation by Keith Griffin

By Keith Griffin

These 11 essays conceal many prime concerns in modern financial improvement. They speak about strategic visions, systemic transformation and macroeconomic reform. replacement reform ideas are provided for sub-Saharan Africa, and there are 3 case stories of low source of revenue transition economies--Vietnam, China, and Kazakhstan.

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It is high returns to labour that facilitate a transformation of income into human development. Growth, in other words, is a permissive factor; there is no mechanism that automatically translates growth into greater human development. A further implication of this line of reasoning is that a growth process that results in a more equal distribution of income will have a more favourable impact on human development than a growth process that is accompanied by increased inequality. This is true whether the diminished inequality arises directly from the growth process itself or is a product of government policy regarding, say, public expenditure and taxation.

Most important, by stimulating growth, migration actually reduces unemployment rather than increases it. It is a great fallacy to think that the number of jobs is fixed and that migrant workers deprive local workers of a livelihood. This is a fear on which demagogues feast, but the truth is that migrants create jobs for themselves and others that otherwise would not exist. Second, it is claimed that migration increases inequality. It is indeed plausible to argue that in the host country immigration lowers the 38 Studies in Development Strategy wages of some categories of low-skilled labour and accentuates inequality in the distribution of income, but the quantitative effect is slight.

These new technologies also have helped to make globalization irreversible. Electronic transfers of funds make it more difficult for 36 Studies in Development Strategy governments to reimpose capital controls. The fax and e-mail make it more difficult to restrict flows of information services. The large volume of intra-firm trade within multinational corporations and the ability of multinational corporations to shift resources readily throughout the world make it more difficult to reimpose trade barriers.

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